EDB and TTFA launch carbon fund with initial $20m commitment

The DAF seeks to address funding challenges that typically affect early-stage carbon projects.

The Singapore Economic Development Board (EDB) and TT Foundation Advisors (TTFA), the philanthropy advisory arm of Temasek Trust, have launched a donor-advised fund (DAF) aimed at supporting early-stage carbon projects that generate Article 6-compliant carbon credits.

Announced on May 5, the fund is intended to mobilise contributions from family offices and philanthropic foundations to co-fund carbon initiatives under EDB’s Carbon Project Development Grant.

According to EDB, the DAF seeks to address funding challenges that typically affect early-stage carbon projects, particularly during feasibility and pre-registration phases.

TTFA will manage the DAF, which allows for flexible contributions and aims to support projects through feasibility studies, validation, and potential offtake agreements. The initiative also supports broader efforts to enhance Singapore’s carbon services ecosystem.

An initial $20m has been committed to the fund, with additional interest from other family offices, the agencies said.

The fund is part of ongoing efforts to enable more collaboration between public, private, and philanthropic capital providers in advancing decarbonisation projects in Singapore and the region.

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